Simon Joseph: FINRA Sanctions Ex-LPL Advisor

Former Alexandria, Virginia financial advisor Simon Joseph (CRD# 5602157) was recently sanctioned in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he was most recently registered as a broker and an investment advisor with LPL Financial, having previously been registered with Momentum Independent Network and Truist Investment Services.

A Letter of Acceptance, Waiver, and Consent (No. 2024083025801) describes FINRA’s disciplinary action against Mr. Joseph. Filed in August 2025, it describes allegations that on several applications for registration with FINRA, he willfully failed to disclose a consent order against him by the Maryland Securities Division. According to the Letter, the consent order, issued in 2019, concerned findings that “he had engaged in dishonest and unethical practices by, among other things, effecting discretionary transactions in customer accounts without written authorization and mismarking order tickets.” He allegedly did not timely disclose this consent order when registered at several former member firms, including BB&T Securities, Truist Investment Services, Momentum Independent Network, and LPL Financial. Finding that his conduct violated FINRA rules, FINRA censured him, ordered him to pay a fine of $5,000, and suspended him from associating with any member firm for a period of six months.

Mr. Joseph’s BrokerCheck report discloses two investor complaints. The most recent, filed in 2023, alleges that as a representative of Truist Investment Services, he made unauthorized trades. In 2024 the complaint reached a settlement of $90,000.

A second investor complaint, filed in 2016, similarly alleged that as a representative of Morgan Stanley, he made unauthorized trades. In 2018 the complaint reached a settlement of $70,000.

According to the Financial Industry Regulatory Authority, Simon Joseph holds 15 years of securities industry experience. Most recently based in Alexandria, Virginia, he was registered as a broker and an investment advisor with LPL Financial from May until August 2024. His past registrations include Momentum Independent Network, Truist Investment Services, BB&T Securities, Morgan Stanley, AXA Advisors, and ING Financial Partners. His credentials include the passage of five securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the Uniform Investment Adviser Law Examination, or Series 65; the Securities Industry Essentials Examination, or SIE; the Futures Managed Funds Examination, or Series 31; and the General Securities Representative Examination, or Series 7. He is not currently licensed with any state or firm. (Information current as of August 10, 2025.)

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